Italian Way Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 00693311 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

Italian Way Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

G Venditto

Mr C Ganadu

REGISTERED OFFICE:

25 Castle Street

Hastings

East Sussex

TN34 3DY

REGISTERED NUMBER:

00693311 (England and Wales)

ACCOUNTANTS:

Sellens French

Chartered Accountants

91-97 Bohemia Road

St Leonards on Sea

East Sussex

TN37 6RJ

FIXED ASSETS

Tangible assets

2

703,339

380,256

Investments

3

531

291

703,870

380,547

CURRENT ASSETS

Stocks

-

24,500

Debtors

-

106,728

Cash in hand

78

-

78

131,228

CREDITORS

Amounts falling due within one year

659,089

390,351

NET CURRENT LIABILITIES

(659,011

)

(259,123

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

44,859

121,424

CREDITORS

Amounts falling due after more than one
year

30,592

44,408

NET ASSETS

14,267

77,016

CAPITAL AND RESERVES

Called up share capital

4

2,000

Profit and loss account

12,267

75,016

SHAREHOLDERS' FUNDS

14,267

77,016

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 12 December 2016 and were signed on its behalf
by:

G Venditto - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

10% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

582,655

Additions

386,957

At 31 March 2016

969,612

DEPRECIATION

At 1 April 2015

202,399

Charge for year

63,874

At 31 March 2016

266,273

NET BOOK VALUE

At 31 March 2016

703,339

At 31 March 2015

380,256

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2015

291

Additions

240

At 31 March 2016

531

NET BOOK VALUE

At 31 March 2016

531

At 31 March 2015

291

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

2,000

Ordinary

£1

2,000